Headquartered in New York, an on-demand shuttle service provider, Via has hit a $2.25 billion valuation after raising $400 Million Series E funding round.
The new round has been led by Exor NV along with new investors including Shell, Macquarie Capital and Mori Building.
Via’s existing investors have also participated in the Series E round including RiverPark Ventures, 83North, Hearst Ventures, Pitango, Planven Ventures, Ervington Investments, and Broadscale Group.
Exor NV is a holding company controlled by the Italian Agnelli family that owns stakes in Fiat Chrysler Automobiles, Ferrari and PartnerRe. Exor alone has invested $200 million which is half of the total raised amount. In the deal, it has been decided that Noam Ohana, the early-stage investment arm of Exor and who heads up Exor Seeds will join Via as a board member.
According to the Co-founder and CEO of Via, Daniel Ramot, the company currently operates consumer-facing shuttles in New York, Washington, D.C. and Chicago and employs about 700 people. The company is planning to use the currently raised fund to expand its ‘partnerships’, the software services which is the company’s another business. Via sells its software to cities and transportation authorities to deploy their own shuttles and the core of its business is its underlying software platform.
As per the Via’s words, to date, “Via platform is being used by more than 100 partners.” The list includes “Los Angeles, California, Cupertino, and Arriva Bus UK, a Deutsche Bahn company that uses it for a first and last-mile service connecting commuters to a high-speed train station in Kent, U.K.”
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